2020: Schweikert Voted For The Paycheck Protection Program And Health Care Enhancement Act, Congress's Fourth Coronavirus Response Bill, Which Increased Funding For The EIDL. In April 2020, Schweikert voted for the Paycheck Protection Program and Health Care Enhancement Act as part of Congress's response to the Coronavirus pandemic that would, according to Congressional Quarterly, "[provide] additional funding for SBA Economic Injury Disaster Loans (EIDL) and associated grants for small businesses that have been financially harmed by the pandemic [...] The measure increases by $10 billion the level of emergency grants authorized under the expanded EIDL program, increasing the program's authorized grant level to $20 billion and appropriating $10 billion for those additional grants. It also appropriates $50 billion for the costs of SBA Economic Injury Disaster Loans, which is estimated to support $350 billion in such disaster loans to small businesses." The vote was on a motion to concur. The House passed the bill by a vote of 388-5 and the bill was then signed into law by the President. [House Vote 104, 4/23/20; Congressional Quarterly, 4/22/20; Congressional Actions, H.R.266]
The Bill Expanded Benefits For Small Businesses Under The Economic Injury Disaster Loan (EIDL) Program Administered Under The SBA. According to Congressional Quarterly, "SBA's EIDL program traditionally provides direct, low-interest loans of up to $2 million to small businesses that have been impacted by a natural disaster to help the business cover operating expenses. The initial COVID-19 response package enacted by Congress in March authorized small businesses affected by the pandemic to access the EIDL program, and the third response package (the CARES Act) expanded the program by creating an emergency grant component under which businesses that apply for an Economic Injury Disaster Loan can receive a loan advance of up to $10,000 to cover revenue shortfalls that does not have to be repaid --- and which the business may keep even if their loan application is denied." [Congressional Quarterly, 4/22/20]
The Measure Included Funds For Farming And Agricultural Industries, Which Were Left Out Of The March Legislation. According to Congressional Quarterly, "The economic bill the Senate passed Tuesday would give farmers another pool of federal loans and grants to tap by ending restrictions on agricultural eligibility for the Small Business Administration's economic injury disaster program [...] Farm groups had complained that although Congress pumped $10 billion into the program in March legislation, it left unchanged language that shut out much of agriculture. Aquaculture, plant nurseries and small agricultural cooperatives could apply for up to $2 million in low-interest loans, but farms and ranches with 500 or fewer employees were ineligible." [Congressional Quarterly, 4/21/20]
2023: Schweikert Voted To Disapprove A CFPB Small Business Lending Rule. In December 2023, according to Congressional Quarterly, Schweikert voted for "Passage of the resolution that would provide for congressional disapproval of a May 2023 Consumer Financial Protection Bureau rule that requires financial institutions to collect and report information to CFPB on small-business credit applications, such as the credit type, credit purpose and the amount applied for. It would also allow for the collection of self-reported demographic data related to women-, minority- and LGBTQ-owned small businesses. According to the CFPB, the rule is intended to allow for the creation of a database which agencies can use to enforce fair lending practices. The rule took effect on Aug. 29, 2023. Under the provisions of the joint resolution, the CFPB rule would have no force or effect." The vote was on passage. The House passed the resolution by a vote of 221 to 202, thus it was sent to the President. President Biden vetoed the resolution. [House Vote 690, 12/1/23; Congressional Quarterly, 12/1/23; Congressional Actions, S.J. Res. 32]
2023: Schweikert Effectively Voted To Disapprove A Small Business Credit Rule. In November 2023, according to Congressional Quarterly, Schweikert voted for the "motion to order the previous question (thus ending debate and possibility of amendment) on the rule (H Res 891) that would provide for House floor consideration of the [...] joint resolution (S J Res 32) disapproving a CFPB small business credit rule. The rule would provide up to one hour of debate on each bill." The vote was on the adoption of the rule. The House agreed to the motion by a vote of 212 to 205. [House Vote 679, 11/28/23; Congressional Quarterly, 11/28/23; Congressional Actions, H.Res. 891; Congressional Actions, H.R. 5283]
2023: Schweikert Effectively Voted To Disapprove A Small Business Credit Rule. In November 2023, according to Congressional Quarterly, Schweikert voted for the "motion to order the previous question (thus ending debate and possibility of amendment) on the rule (H Res 891) that would provide for House floor consideration of the [...] joint resolution (S J Res 32) disapproving a CFPB small business credit rule. The rule would provide up to one hour of debate on each bill." The vote was on the previous question. The House agreed to the motion by a vote of 213 to 205. [House Vote 678, 11/28/23; Congressional Quarterly, 11/28/23; Congressional Actions, H.Res. 891; Congressional Actions, H.R. 5961]
2019: Schweikert Voted For Studying Challenges Faced By Rural Small Businesses. In July 2019, Schweikert voted for a bill that would, according to Congressional Quarterly, "require the Securities and Exchange Commission office for small business capital formation to identify and include in its annual report to Congress challenges in securing access to capital faced by rural-area small businesses." The vote was on a motion to suspend the rules and pass the bill. The House agreed to the motion and passed the bill by a vote of 413-7. The bill was never taken up in the Senate. [House Vote 433, 7/9/19; Congressional Quarterly, 7/9/19; Congressional Actions, H.R.2409]